Photo used for illustrative purpose.
The Dubai property market is on a solid growth and is marching ahead bucking the global trends. The realty market is active in the recent weeks due to an increase in demand for housing units, in line with the success of Dubai Expo 2020.
This was revealed by Islam Ahmed Suleiman, CEO, Reportage Properties, recently to the media in Dubai. He stressed that the real estate market in the UAE encourages the launch of new projects, in light of the strong demand for quality projects, which are characterised by the availability of various services and attractive facilities
The developer has announced a special offer on their new project, Verdana, located within the Dubai Investments Park.
The offer includes a 15% discount, when the buyer put a down payment of 30% of the unit value, with a commitment to pay only 1% per month.
They also offer another choice of a 10% discount when putting a 20% down payment, and 1% monthly installments, or a 5% discount when putting a 10% down payment, with only 1% of the unit value paid on monthly installments.
The Verdana project consists of 305 townhouses of 4 rooms and a maid room, with areas ranging from 2,772 to 3,394 square feet.
Suleiman confirmed that the company's recent launch of the Verdana project came after the strong demand for the Rukan Lofts project, which the company launched about two years ago in Dubailand, and received a noticeable response, with strong sales recorded.
He explained that Reportage Properties strong and stable performance enhances their plans to launch more new projects that meet the requirements of various segments of buyers, and provide various options for those wishing to buy real estate in Dubai, explaining that the company recorded a high demand from various segments of customers wishing to purchase units in the Verdana project, as soon as it was put up for sale recently.
Suleiman pointed out that the "Verdana" project extends over an area of 500,000 square feet, and includes many facilities and services such as swimming pools, a gym, private parking for each unit, and spacious green landscape.
The specifications of the units also include private balconies according to the unit's plan, built-in wardrobes in the bedrooms, a wash room, a high ceiling living room, a private parking and entrance, kitchen cabinets, and shaded seating areas. Every bedroom is also provided with a private bathroom.
The real estate bulletin showed that real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019, respectively.
The real estate and properties transactions valued at Dhs6.8 billion in total during the week, according to Dubai Land Department. 330 plots were sold for Dhs1.65 billion, 1,653 apartments and villas were sold for Dhs3.42 billion.
The past months leading up to the launch of the global event Expo 2020 Dubai witnessed an exceptional growth in general in real estate sales transactions in terms of volume and value.
The top three transactions were a land in Madinat Dubai Almelaheyah sold for Dhs212.6 million, followed by a land that was sold for Dhs53 million in Hadaeq Sheikh Mohammed Bin Rashid, and a land sold for Dhs212.6 million in Madinat Dubai Almelaheyah in third place.
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